The Financial Crimes Enforcement Network (FinCEN) has extended the deadline for filing Beneficial Ownership Information (BOI) reports to January 13, 2025. This decision follows a court ruling reinstating the reporting requirements of the Corporate Transparency Act (CTA), which were temporarily blocked earlier this month.
The extension applies to most reporting companies and allows additional time for compliance, particularly for entities affected during the injunction period. Companies formed or registered before January 1, 2024, now have until January 13, 2025, to submit their initial BOI reports.
The CTA, enacted to combat money laundering, requires companies to disclose beneficial ownership details. The decision aligns with advocacy efforts by organizations like the AICPA, which had pushed for extended deadlines to ease the transition for affected companies.
For more information, visit:
- FinCEN BOI Reporting Resource Center: https://fincen.gov/boi